A fourth of the insurance industry lacks AI-experienced talent

Other concerns include a lack of customer understanding.

Insurers struggle with lack of expertise to fully implement artificial intelligence (AI) technology, according to GlobalData and Verdict Media.

About a fourth of respondents cited insufficient internal expertise as the primary barrier to AI integration. Other concerns include a lack of customer understanding (21.3%), doubts about AI’s readiness (17.3%), and a lack of customer trust (13.4%).  

The survey, conducted on Verdict Media platforms, gathered responses from over 120 industry insiders.

"The insurance industry recognises AI’s potential, but the lack of in-house expertise remains a significant hurdle. Without the right talent, insurers will struggle to implement AI-driven solutions effectively. Companies that prioritise AI training and talent acquisition will gain a competitive edge as AI adoption continues to grow,” Charlie Hutcherson, associate Insurance analyst at GlobalData, said in the report.

The report also suggested insurers address the skills gap by upskilling employees through AI, data analytics, and machine learning courses. 

Partnerships with universities and technology providers can also help develop tailored training programs. Beyond internal expertise, educating customers on AI’s benefits and ensuring transparency in AI-driven decisions are key to overcoming trust issues.